Pound Sterling (GBP) is soft, down 0.3% against the US Dollar (USD) and underperforming most G10 currencies in quiet, mixed trade, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
RSI remains firmly in bullish territory above 60
“The softness follows Tuesday’s pullback from this week’s fresh multi-year high and is likely just a reprieve as markets await fresh catalysts. Domestic releases have been limited and the data calendar remains empty ahead of next week’s BoE policy decision and the widely expected 25bpt cut.”
“We remain bullish above 1.3300 and note that the RSI remains firmly in bullish territory above 60. The multi-month bull channel also remains intact absent a break of its lower bound just below 1.2900.”
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